Joshua Long

The Cheesecake Factory (NASDAQ: CAKE) posted 2Q earning that beat analyst estimates. Piper Jaffray acknowledged this fact, but still maintained an Underweight rating for shares of CAKE. Piper analysts Nicole Regan and Joshua Long said, "The Cheesecake Factory outpaced both ours and the Street's EPS...

Nicole Miller Regan and Joshua C. Long, analysts at Piper Jaffray, are pointing out an increasing trend of corporate travel and spending. This is strongly and positively correlated to restaurants' business performance. Hotel RevPAR (Revenue Per Available Room) grew by 8% year on year and RevPPM (...